THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN THE UNITED STATES

VANCOUVER, British Columbia, Feb. 15, 2018 (GLOBE NEWSWIRE) -- Orla Mining Ltd. (TSX-V:OLA) (the “Company” or “Orla”) is pleased to announce that it has closed its previously announced bought deal financing, including the exercise in full of the underwriters’ over-allotment option. A total of 17,581,200 units (the “Units”) of Orla were sold at a price of $1.75 per Unit, for aggregate gross proceeds of $30,767,100 (the “Offering”). Each Unit consists of one common share of Orla and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one common share of Orla at a price of $2.35 at any time prior to February 15, 2021.

The Company plans to use the net proceeds from the Offering for exploration and development activities at the Cerro Quema and Camino Rojo projects and for general corporate purposes.

The Offering was made through a syndicate of underwriters led by GMP Securities L.P., and including Paradigm Capital Inc., Cormark Securities Inc., TD Securities Inc., Desjardins Securities Inc. and Raymond James Ltd. (collectively, the “Underwriters”). The Underwriters received a cash commission equal to 6% of the gross proceeds of the Offering (other than from the issue and sale of the Units to certain purchasers on a president’s list, for which a 1% cash commission was paid). The Offering was completed by way of a short form prospectus filed in all of the provinces and territories of Canada, except Québec, and offered and sold elsewhere outside of Canada on a private placement basis. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Goldcorp Inc. and Agnico Eagle Mines Limited each subscribed for such number of Units from the Offering in order to maintain their current ownership positions of approximately 19.9% and 9.9%, respectively.

Eight directors, officers and insiders of Orla Mining have participated in the Offering and were issued an aggregate of 5,090,300 Units. Such participation in the Offering constitutes a “related party transaction” as defined in Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“61-101”). The Offering is exempt from the formal valuation and minority shareholder approval requirements of 61-101 as neither the fair market value of the securities issued to related parties nor the consideration for such securities exceed 25% of the Company’s market capitalization. The Company did not file a material change report 21 days prior to closing of the Offering as the participation of insiders of the Company in the Offering had not been confirmed at that time.

The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Orla Mining Ltd.

Orla Mining owns two advanced stage open pit, heap leach style oxide gold projects in Panama and Mexico. Camino Rojo is an advanced gold and silver project covering over 200,000 hectares in Zacatecas State, Central Mexico. The project is 100% owned and has historical oxide reserves along with historical sulphide resources (which Goldcorp retains a back-in right on the sulphides). The Company believes it has exploration potential for additional oxide and sulphide mineral resources. Access and infrastructure are excellent with a paved highway and powerline nearby. A NI 43-101 Technical Report dated January 24, 2018, on Camino Rojo is available on SEDAR. The 100% owned Cerro Quema project in Panama includes a near-term gold production scenario and exploration upside. Cerro Quema’s 14,800 Ha concession boasts paved road access, a supportive local population and private land ownership. The Cerro Quema project is currently in the last stage of the permitting process for a proposed open pit mine and gold heap leach operation. Please refer to the Cerro Quema Project - Pre-feasibility Study on the La Pava and Quemita Oxide Gold Deposits dated August 22, 2014, which is available on SEDAR.

Forward-looking Statements

This news release contains certain “forward-looking statements” within the meaning of Canadian and United States securities legislation, including, without limitation, statements with respect to the use of proceeds from the Offering, the results of exploration and planned exploration programs, the potential for discovery of additional mineral resources and the Company’s objectives and strategies. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release, including without limitation, assumptions that all approvals of the Offering will be obtained, the Company’s activities will be in accordance with the Company’s public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained and that there will be no significant disruptions affecting the Company or its properties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements involve significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: risks related to uncertainties inherent in the preparation of preliminary economic assessments, drill results and the estimation of mineral resources; and risks associated with executing the Company’s objectives and strategies, including costs and expenses. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

VANCOUVER, British Columbia, Jan. 26, 2018 (GLOBE NEWSWIRE) -- Orla Mining Ltd. (TSX VENTURE:OLA) ("Orla" or the "Company") has filed a technical report prepared in accordance with the requirements of National Instrument 43-101 (“NI 43-101”) on the Camino Rojo Gold Project, Municipio of Mazapil, Zacatecas, Mexico in connection with the filing of the Company’s Annual Information Form. The technical report has been filed under the Company’s profile on SEDAR and will be available on the Company’s website.

Qualified Person

The technical report is authored by Matthew D. Gray, Ph.D., C.P.G. and Carl E. Defilippi, RM SME with an effective date of January 24, 2018. Both are independent of Orla and “qualified persons” as defined by NI 43-101.

On behalf of the Board of Directors,

Marc Prefontaine, M.Sc., P.Geo., President & Chief Executive Officer

About Orla Mining Ltd.

Orla Mining owns two advanced stage open pit, heap leach style oxide gold projects in Panama and Mexico. Camino Rojo is an advanced gold and silver project covering over 200,000 hectares in Zacatecas State, Central Mexico. The project is 100% owned and has historical oxide reserves along with historical sulphide resources (which Golcorp retains a back-in right on the sulphides). The Company believes it has exploration potential for additional oxide and sulphide mineral resources. Access and infrastructure are excellent with a paved highway and powerline nearby. A NI 43-101 Technical Report dated January 24, 2018, on Camino Rojo is available on SEDAR. The 100% owned Cerro Quema project in Panama includes a near-term gold production scenario and exploration upside. Cerro Quema's 14,800 Ha concession boasts paved road access, a supportive local population and private land ownership. The Cerro Quema project is currently in the last stage of the permitting process for a proposed open pit mine and gold heap leach operation. Please refer to the Cerro Quema Project - Pre-feasibility Study on the La Pava and Quemita Oxide Gold Deposits dated August 22, 2014, which is available on SEDAR.

Forward-looking Statements

This news release contains certain “forward-looking statements” within the meaning of Canadian and United States securities legislation, including, without limitation, results of exploration and planned exploration programs, the potential for discovery of additional mineral resources and the Company's objectives and strategies. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release, including without limitation, assumptions that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained and that there will be no significant disruptions affecting the Company or its properties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements involve significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: risks related to uncertainties inherent in the preparation of preliminary economic assessments, drill results and the estimation of mineral resources; and risks associated with executing the Company’s objectives and strategies, including costs and expenses. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

VANCOUVER, British Columbia, Jan. 25, 2018 (GLOBE NEWSWIRE) -- Orla Mining Ltd. (TSX VENTURE:OLA) ("Orla" or the "Company") is pleased to announce that it has entered into an agreement to acquire up to a 100% interest in the Monitor Gold exploration project (the “Project”) consisting of 340 claims covering approximately 2,800 hectares in central Nevada. The Project covers zones with silicification and samples with anomalous gold in both Paleozoic carbonate rocks and overlying Tertiary volcanic rocks along a 40 km long belt. The Project features similar Paleozoic stratigraphic formations and silicic Cenozoic volcanic rocks that host large gold deposits elsewhere in Nevada.

The core of the Project is the King Solomon and Green Monster areas, 80 to 100 km northeast of Tonopah. The Project is 45 km east of the Round Mountain gold deposit, hosted by silicic volcanic rocks (10 million ounce gold production over a 20 year period, according to public disclosure), and 45 km southeast of the sediment-hosted Northumberland Carlin-like gold deposit. Sample results from historic exploration work throughout the Project area show zones of variable silicification with anomalous gold along the west side of a northerly-trending range-front fault. At King Solomon, a total of 96 mostly shallow holes were drilled along a 3.5 km long trend with intercepts from historical reports that feature 67.1 m at 0.5 g/t Au in volcanic rocks and 80.8 m at 0.8 g/t Au in carbonate rocks. At Green Monster, a total of 105 shallow RC drill holes explored a 6 km-long trend of jasperoids in Paleozoic carbonate rocks. Historical reports documented 12 drill holes with intercepts of low-grade gold in silicified carbonate rocks and feature 30 m at 0.80 g/t Au and 49 m at 0.82 g/t Au. The low-grade gold from the historical drilling highlights the potential for mineralization at various stratigraphic levels in both carbonate and volcanic rocks. While many holes reportedly did not intersect significant gold mineralization, potential structural zones and favorable stratigraphic horizons below the shallow holes were never tested.

Marc Prefontaine, the President and Chief Executive Officer stated, “The primary focus for Orla is to secure and develop advanced gold projects. But we always consider any precious metal opportunity that has potential to significantly enhance shareholder value. Our exploration team determined that the Mountain Gold Project vendor had assembled a very high-quality land package and an extensive data package that included results from various exploration efforts by different companies. This data and the belt had never been amalgamated. In isolation, previous results were not significant enough for past operators to justify continued exploration on their land packages. But when looking at the combined areas and data, we believe a very compelling exploration story is apparent. We are excited to have an opportunity in Nevada, one of the premier gold locales in the world. Work in 2018 will include additional data compilation and analysis, geology, surface sampling and geophysics. The goal is to identify drill targets by the end of the year.”

The agreement is structured as a lease between the vendor, Mountain Gold Claims LLC (“Mountain Gold”), a privately held Nevada company, Orla and Monitor Gold Corporation, a wholly owned subsidiary of Orla. The agreement covers an initial 340 claims and is subject to a surrounding area of interest (the “AOI”) in which any additional mineral claims Orla acquires will become part of the lease and a right for Orla to acquire ownership of any claims required to develop a mining operation. Mountain Gold retains a 3% Net Smelter Royalty (“NSR”) covering the claims and any new claims in the AOI, with Orla having the right to purchase a portion of this NSR and a right of first refusal on the remaining portion.

The Project claims are on lands administered by the US Forest Service and the Bureau of Land Management. Access is by maintained gravel roads, with King Solomon approximately 50 km from a paved highway.

Pursuant to the terms of the agreement, Orla is required to make an advanced royalty payment of US$5,000 on execution of the agreement, and advanced royalty payments in the aggregate amount of US$525,000, as allocated per year in the agreement until the 10th anniversary date, and US$100,000 on the 11th anniversary date and each anniversary date thereafter. Orla has annual work commitments in the aggregate of US$155,000 for the first four years of the lease, and US$100,000 for the fifth year and each year thereafter. In addition, Orla will be required to make payments of US$50,000, US$150,000 and US$250,000, on each of the first, third and fifth anniversary dates, respectively, with such payments to be satisfied in cash or through the issuance of common shares of Orla, which shares will be issued at a price based on the closing price of the common shares of Orla on the TSX Venture Exchange on the date prior to the applicable anniversary date or such other price as may be required by the TSX Venture Exchange.

All securities issued in connection with the property option will be subject to a four-month-and-one-day statutory hold period. The agreement remains subject to the approval of the TSX Venture Exchange.

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Hans Smit, P.Geo., Chief Operating Officer of Orla Mining Ltd., who is the Qualified Person for the technical information in this news release under NI 43-101 standards.

On behalf of the Board of Directors,

Marc Prefontaine, M.Sc., P.Geo., President & Chief Executive Officer

About Orla Mining Ltd.

Orla Mining owns two advanced stage open pit, heap leach style oxide gold projects in Panama and Mexico. Camino Rojo is an advanced gold and silver project covering over 200,000 hectares in Zacatecas State, Central Mexico. The project is 100% owned and has historical oxide reserves along with historical sulphide resources (which Golcorp retains a back-in right on the sulphides). The Company believes it has exploration potential for additional oxide and sulphide mineral resources. Access and infrastructure are excellent with a paved highway and powerline nearby. A NI 43-101 Technical Report on Camino Rojo is available on SEDAR under the profile of Canplats Resources Corporation (acquired by Goldcorp in 2010). The 100% owned Cerro Quema project in Panama includes a near-term gold production scenario and exploration upside. Cerro Quema's 14,800 Ha concession boasts paved road access, a supportive local population and private land ownership. The Cerro Quema project is currently in the last stage of the permitting process for a proposed open pit mine and gold heap leach operation. Please refer to the Cerro Quema Project - Pre-feasibility Study on the La Pava and Quemita Oxide Gold Deposits dated August 22, 2014, which is available on SEDAR.

Forward-looking Statements

This news release contains certain “forward-looking statements” within the meaning of Canadian and United States securities legislation, including, without limitation, statements with respect to the anticipated terms of the agreement with respect to the Project, the potential for gold mineralization on the Project, results of exploration and planned exploration programs, the potential for discovery of additional mineral resources and the Company's objectives and strategies. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release, including without limitation, assumptions that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained and that there will be no significant disruptions affecting the Company or its properties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements involve significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: risks related to uncertainties inherent in the preparation of preliminary economic assessments, drill results and the estimation of mineral resources; and risks associated with executing the Company’s objectives and strategies, including costs and expenses. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

VANCOUVER, British Columbia, Jan. 17, 2018 (GLOBE NEWSWIRE) -- Orla Mining Ltd. (TSX-V:OLA) (the “Company” or “Orla”) announces that it has completed its previously-announced shares for debt settlement after being granted approval of the transaction by the TSX Venture Exchange. An aggregate of $206,783 in debt was extinguished through the issuance of an aggregate of 147,702 common shares of the Company at an issue price of $1.40 per common share. The issued common shares are subject to a four (4) month hold period ending on May 18, 2018.

About Orla Mining

Orla Mining is a mineral exploration company led by a group of seasoned mining executives with strong financial backing. The company's focus is to acquire mineral exploration opportunities where the Company's exploration and development expertise and corporate share structure could substantially enhance shareholder value.

The 100% owned Cerro Quema project in Panama includes a near-term gold production scenario and significant exploration upside. Cerro Quema's 14,800 Ha concession boasts paved road access, a supportive local population and private land ownership. The Cerro Quema project is currently in the last stage of the permitting process for a proposed open pit mine and gold heap leach operation. Please refer to the Cerro Quema Project - Pre-feasibility Study on the La Pava and Quemita Oxide Gold Deposits dated August 22, 2014, which is available on SEDAR. Camino Rojo is an advanced gold and silver project located in Zacatecas State, Central Mexico. The project is 100% owned and has historical oxide reserves along with historical sulphide resources. It covers over 200,000 hectares and the Company believes it has exploration potential for additional oxide and sulphide mineral resources. Access and infrastructure are excellent with a paved highway and powerline nearby. A NI 43-101 Technical Report on Camino Rojo is available on SEDAR under the profile of Canplats Resources Corporation (acquired by Goldcorp in 2010).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Hole CQDH17-148 was drilled to test the core of a geophysical EM anomaly. The collar of this hole was 115 metres southwest of the collar of CQDH17-136 and 120 metres west of previously reported CQDH17-116 (49.0m @ 0.50 g/t Au and 1.39% Cu and 55.8m @ 0.28 g/t Au and 1.99% Cu in two intercepts separated by 28.7m of low grade material - See News Release dated Sept. 15, 2017). CQDH17-148 had an upper oxide intersection from 6.0 to 16.0 that averaged 0.70 g/t Au over 11.0m. From 71.5 to 174.0 m, the hole intersected 102.5m averaging 0.46 g/t Au and 1.21% Cu, including a higher-grade portion with 8.1m @ 2.31 g/t Au and 3.21% Cu. The hole then went into an 81.1 m lower grade interval from 174.0 to 255.1m that averaged 0.2 g/t Au and 0.24% Cu.

The geometry, and thus true width, of mineralization is still unknown. Copper-gold mineralization encountered in CQDH17-142 and 148 appears to include both low and moderate arsenic sub-types, with most higher-grade zones having relatively low arenic. This suggests the existence of two overlapping metal-bearing systems, but further work is required to refine the geologic model for the zone. Additional drilling is required to determine the orientation and extent of the copper-gold values and distribution of mineral types. A 30 line-km grid with 100m spaced lines is currently being established to allow an IP survey over the area. Drilling will resume in mid-January.

Marc Prefontaine, Orla CEO stated, “The Caballito Cu-Au zone was an exciting discovery for Orla in 2017 and highlighted the potential for new discoveries at Cerro Quema that add value on top of the existing oxide reserve. We look forward to continued success on this project in 2018.”

Holes CQDH17-143 and 144 were drilled in the far western portion of the proposed Quemita pit outlined in the project Pre-Feasibility Study (PFS) to see if any of the material modeled as waste had gold values. Neither had a significant intersection. Hole CQDH17-147 intersected 41.5m of oxide averaging 0.31 g/t Au below the central portion of the PFS pit. Holes CQDH17-150, 152 and 153 were drilled to the north and downslope of the PFS pit. Results from CQDH17-150 showed only weakly anomalous gold. Results from the other 2 holes are pending.

Six holes were drilled to acquire material for additional metallurgical column test work. Holes CQDH17-145, 146 and 149 were drilled in the Quemita zone. Holes CQDH17-151, 154 and 155, the last hole drilled in 2017, were drilled in the La Pava zone.

A total of 11,895 metres were drilled in 91 holes at Cerro Quema in 2017.

Table of Drill Holes released on January 8th, 2018

Hole

Area

East

North

Az

Dip

Depth

Intercepts

From

to

Width

Au g/t

Cu %

CQDH-17-142

Caballito

554406

834808

245

-60

279.0

81.1

169.0

87.9

0.36

0.74

including

81.1

90.6

9.5

0.61

2.07

including

100.9

105.0

4.1

0.59

3.29

194.7

247.5

52.8

0.20

0.52

CQDH-17-143

Quemita

552900

835759

180

-50

171.0

No sig int

CQDH-17-144

Quemita

552900

835679

180

-50

150.0

No sig int

CQMET-17-145

Quemita

553073

835766

180

-50

79.3

Met Drill Hole

CQMET-17-146

Quemita

552996

835720

180

-60

88.5

Met Drill Hole

CQDH-17-147

Quemita

553038

835840

180

-50

97.5

36.0

77.5

41.5

0.31

CQDH-17-148

Caballito

554355

834631

280

-75

277.5

6.0

17.0

11.0

0.70

71.5

174.0

102.5

0.46

1.21

including

81.4

89.5

8.1

2.31

3.21

174.0

255.1

81.1

0.19

0.24

CQMET-17-149

Quemita

553132

835816

180

-60

115.8

Met Drill Hole

CQDH-17-150

Quema Bajo

553000

836217

125

-50

100.5

No sig int

CQMET-17-151

La Pava

549766

835038

180

-60

129.6

Met Drill Hole

CQDH-17-152

Quema Bajo

553210

86360

125

-50

102.0

Assays Pending

CQDH-17-153

Quema Bajo

553467

836397

150

-60

100.5

Assays Pending

CQMET-17-154

La Pava

549682

835017

180

-70

93.7

Met Drill Hole

CQMET-17-155

La Pava

550054

834858

180

-60

69.0

Met Drill Hole

A map showing the location of Caballito holes is attached to this press release and posted on the website.

Quality Control Protocols

All gold results were obtained by ALS Minerals (Au-AA23) using fire assay fusion and an atomic absorption spectroscopy finish. All samples are also analyzed for multi-elements, including silver and copper, using an Aqua Regia (ME-ICP41) method at ALS Laboratories in Peru. Samples with copper values in excess of 1% by ICP analysis are re-run with Cu AA46 aqua regia and atomic absorption analysis. Drill program design, Quality Assurance/Quality Control and interpretation of results are performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards, blanks and duplicates are included approximately one every 25 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 5% of sample pulps are sent to a secondary laboratory for check assays. The HQ diameter core is halved with a diamond saw.

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Hans Smit, P.Geo., Chief Operating Officer of Orla Mining Ltd., who is the Qualified Person for the technical information in this news release under NI 43-101 standards.

On behalf of the Board of Directors,

Marc Prefontaine, M.Sc., P.Geo., President & Chief Executive Officer

About Orla Mining Ltd.

The 100% owned Cerro Quema project in Panama includes a near-term gold production scenario and significant exploration upside. Cerro Quema's 14,800 Ha concession boasts paved road access, a supportive local population and private land ownership. The Cerro Quema project is currently in the last stage of the permitting process for a proposed open pit mine and gold heap leach operation. Please refer to the Cerro Quema Project - Pre-feasibility Study on the La Pava and Quemita Oxide Gold Deposits dated August 22, 2014, which is available on SEDAR. Camino Rojo is an advanced gold and silver project located in Zacatecas State, Central Mexico. The project is 100% owned and has historical oxide reserves along with historical sulphide resources. It covers over 200,000 hectares and the Company believes it has exploration potential for additional oxide and sulphide mineral resources. Access and infrastructure are excellent with a paved highway and powerline nearby. A NI 43-101 Technical Report on Camino Rojo is available on SEDAR under the profile of Canplats Resources Corporation (acquired by Goldcorp in 2010).

Forward-looking Statements

This news release contains certain “forward-looking statements” within the meaning of Canadian and United States securities legislation, including, without limitation, statements with respect to the results of exploration and planned exploration programs, the potential for discovery of additional mineral resources and the Company's objectives and strategies. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release, including without limitation, assumptions that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained and that there will be no significant disruptions affecting the Company or its properties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements involve significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: risks related to uncertainties inherent in the preparation of preliminary economic assessments, drill results and the estimation of mineral resources; and risks associated with executing the Company’s objectives and strategies, including costs and expenses. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

VANCOUVER, British Columbia, Dec. 27, 2017 (GLOBE NEWSWIRE) -- Orla Mining Ltd. (TSX-V:OLA) (the “Company” or “Orla”) announces that its Board of Directors has approved a proposed share for debt settlement (the “Shares for Debt Settlement”) with certain creditors, providing for the settlement of an aggregate of $206,783 in debt through the issuance of an aggregate of 147,702 common shares of the Company at an issue price of $1.40 per common share.

The Shares for Debt Settlement is subject to approval of the TSX Venture Exchange.

About Orla Mining

Orla Mining is a mineral exploration company led by a group of seasoned mining executives with strong financial backing. The company's focus is to acquire mineral exploration opportunities where the Company's exploration and development expertise and corporate share structure could substantially enhance shareholder value.

The 100% owned Cerro Quema project in Panama includes a near-term gold production scenario and significant exploration upside. Cerro Quema's 14,800 Ha concession boasts paved road access, a supportive local population and private land ownership. The Cerro Quema project is currently in the last stage of the permitting process for a proposed open pit mine and gold heap leach operation. Please refer to the Cerro Quema Project - Pre-feasibility Study on the La Pava and Quemita Oxide Gold Deposits dated August 22, 2014, which is available on SEDAR. Camino Rojo is an advanced gold and silver project located in Zacatecas State, Central Mexico. The project is 100% owned and has historical oxide reserves along with historical sulphide resources. It covers over 200,000 hectares and the Company believes it has exploration potential for additional oxide and sulphide mineral resources. Access and infrastructure are excellent with a paved highway and powerline nearby. A NI 43-101 Technical Report on Camino Rojo is available on SEDAR under the profile of Canplats Resources Corporation (acquired by Goldcorp in 2010).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

In the main 158.7 metre intersection, gold grades are fairly uniform throughout. Copper is more variable, ranging from 0.08 to 3.64%. The best copper intercept was 29.5m @ 1.31% Cu and 0.53 g/t Au from 101.0 to 130.5 metres. As with other holes in the Caballito zone, arsenic is at a much lower ratio to copper than in holes further to the north.

CQDH17-136 was drilled at -600. A second hole, CQDH17-140, was drilled at -900 from the same pad. This hole had a narrow section of similar Cu-Au mineralization that averaged 0.29 g/t Au and 0.47% Cu from 160.4 to 172.3 metres. An upper intersection of 2.4m @ 0.37 g/t Au and 1.13% Cu from 103.0 to 105.4 metres had high associated arsenic and thus may be unrelated to what is considered the Caballito Cu-Au Zone.

CQDH17-136 was drilled 100 metres to the northwest of previously reported CQDH-17-116 which intersected 49.0m @ 0.50 g/t Au and 1.39% Cu and 55.8m @ 0.28 g/t Au and 1.99% Cu in two intercepts separated by 28.7m of low grade material. (See News Release dated Sept. 15, 2017). Results from holes CQDH17-116, 136 and 140 suggest a north-north-west control to mineralization. Wide Cu-Au intercepts in holes CQDH17-127 and 132 located to the east of CQDH17-116 released on November 14, 2017 indicate at least some horizontal control to mineralization in that area. Due to the wide spacing of current holes, the geometry and thus true width, of mineralization is uncertain and will require continued drilling to determine. The potential extent of mineralization is also unknown. A hole a further 100 metres to the northwest of CQDH17-136 was recently completed and a hole to test for mineralization to depth closer to CQDH17-116 is in progress.

Marc Prefontaine, Orla CEO noted, “The intersection in CQDH-17-136 really shows the potential of the Caballito Cu-Au zone. We have a lot of work to do to figure out the geology of the area, but we now have several good intercepts. The extent of mineralization horizontally and vertically is unknown. This is a very exciting target and we plan to move another drill into this area early in 2018.”

In addition to the drill working in the Caballito area, a second rig has been drilling in the Quemita area testing for potential extensions to depth and along strike to the reserves contained in a proposed pit outlined in the project Pre-Feasibility Study (PFS). Results from four holes in Quemita are reported herein. Hole CQDH17-137 was drilled quite far below the pit and did not intersect oxide. Holes CQDH17-138, 139 and 141 were drilled on the western margin and to the west of the PFS pit. Oxide intersections of 16.1m @ 0.49 g/t Au in CQDH17-138 and 48.2m @ 0.20 g/t Au in CQDH17-141 show potential for some increase to resources in this area. This drill was recently moved to test prospective targets to the north and downhill of the Quemita resource. Once all results from the Quemita drilling have been received, a new geological model will be created and the need for any additional drilling determined.

A third drill is operating to acquire material for additional metallurgical column test work. Testing will focus on the potential for a larger crush size than in the current PFS model or placing Run of Mine material onto the proposed heap leach pad.

Table of Drill Holes released on November 30, 2017

Hole

Area

East

North

Elev

Az

Dip

Depth

Intercepts

From (m)

To(m)

Width(m)

Au g/t

Cu %

CQDH-17-136

Caballito

554430

834721

583

245

-60

300.0

31.1

38.0

6.9

0.37

2.24

50.6

209.3

158.7

0.62

0.62

including

101.0

130.5

29.5

0.53

1.31

209.3

289.2

79.9

0.15

0.17

CQDH-17-140

Caballito

554430

834721

583

0

-90

258.0

103.0

105.4

2.4

0.37

1.13

160.4

172.3

11.9

0.29

0.47

CQDH-17-137

Quemita

552976

835854

755

180

-50

102.0

No significant intercept

CQDH-17-138

Quemita

552800

835752

723

180

-50

109.5

1.5

17.6

16.1

0.49

CQDH-17-139

Quemita

552829

835677

740

180

-70

67.5

No significant intercept

CQDH-17-141

Quemita

552850

835661

751

180

-50

25.5

27.2

75.4

48.2

0.20

A map showing the Caballito hole locations is attached to this press release.

Quality Control Protocols

All gold results were obtained by ALS Minerals (Au-AA23) using fire assay fusion and an atomic absorption spectroscopy finish. All samples are also analyzed for multi-elements, including silver and copper, using an Aqua Regia (ME-ICP41) method at ALS Laboratories in Peru. Samples with copper values in excess of 1% by ICP analysis are re-run with Cu AA46 aqua regia and atomic absorption analysis. Drill program design, Quality Assurance/Quality Control and interpretation of results are performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards, blanks and duplicates are included approximately one every 25 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 5% of sample pulps are sent to a secondary laboratory for check assays. The HQ diameter core is halved with a diamond saw.

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Hans Smit, P.Geo., Chief Operating Officer of Orla Mining Ltd., who is the Qualified Person for the technical information in this news release under NI 43-101 standards.

On behalf of the Board of Directors,

Marc Prefontaine, M.Sc., P.Geo., President & Chief Executive Officer

About Orla Mining Ltd.

The 100% owned Cerro Quema project in Panama includes a near-term gold production scenario and significant exploration upside. Cerro Quema's 14,800 Ha concession boasts paved road access, a supportive local population and private land ownership. The Cerro Quema project is currently in the last stage of the permitting process for a proposed open pit mine and gold heap leach operation. Please refer to the Cerro Quema Project - Pre-feasibility Study on the La Pava and Quemita Oxide Gold Deposits dated August 22, 2014, which is available on SEDAR. Camino Rojo is an advanced gold and silver project located in Zacatecas State, Central Mexico. The project is 100% owned and has historical oxide reserves along with historical sulphide resources. It covers over 200,000 hectares and the Company believes it has exploration potential for additional oxide and sulphide mineral resources. Access and infrastructure are excellent with a paved highway and powerline nearby. A NI 43-101 Technical Report on Camino Rojo is available on SEDAR under the profile of Canplats Resources Corporation (acquired by Goldcorp in 2010).

About Orla Mining Ltd.

The 100% owned Cerro Quema project in Panama includes a near-term gold production scenario and significant exploration upside. Cerro Quema's 14,800 Ha concession boasts paved road access, a supportive local population and private land ownership. The Cerro Quema project is currently in the last stage of the permitting process for a proposed open pit mine and gold heap leach operation. Please refer to the Cerro Quema Project - Pre-feasibility Study on the La Pava and Quemita Oxide Gold Deposits dated August 22, 2014, which is available on SEDAR. Camino Rojo is an advanced gold and silver project located in Zacatecas State, Central Mexico. The project is 100% owned and has historical oxide reserves along with historical sulphide resources. It covers over 200,000 hectares and the Company believes it has exploration potential for additional oxide and sulphide mineral resources. Access and infrastructure are excellent with a paved highway and powerline nearby. A NI 43-101 Technical Report on Camino Rojo is available on SEDAR under the profile of Canplats Resources Corporation (acquired by Goldcorp in 2010).

Forward-looking Statements

This news release contains certain “forward-looking statements” within the meaning of Canadian and United States securities legislation, including, without limitation, statements with respect to the results of exploration and planned exploration programs, the potential for discovery of additional mineral resources and the Company's objectives and strategies. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release, including without limitation, assumptions that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained and that there will be no significant disruptions affecting the Company or its properties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements involve significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: risks related to uncertainties inherent in the preparation of preliminary economic assessments, drill results and the estimation of mineral resources; and risks associated with executing the Company’s objectives and strategies, including costs and expenses. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

VANCOUVER, British Columbia, Nov. 16, 2017 (GLOBE NEWSWIRE) -- Orla Mining Ltd. (TSX VENTURE:OLA) ("Orla" or the "Company") is pleased to provide an update on results from the ongoing diamond drill program at its wholly owned Cerro Quema project in Panama. Highlights include two Cu-Au intercepts in the Caballito Copper zone 100 metres apart averaging 0.43 g/t Au and 0.64% Cu over 53.0m and 0.13 g/t Au and 0.80% Cu over 50.7m. Additionally, an oxide gold intercept in the Quemita zone returned 1.02 g/t Au over 69.4m that is largely below the current oxide reserves.

Results for 19 holes, CQDH17-117 through CQDH17-135, are reported herein (see table below for full results):

At Caballito, four holes were drilled to follow up on previously reported CQDH-17-116 which intersected 49.0m @ 0.50 g/t Au and 1.39% Cu and 55.8m @ 0.28 g/t Au and 1.99% Cu in two intercepts separated by 28.7m of low grade material. (See News Release dated Sept. 15, 2017). Holes CQDH17-127 and CQDH132, drilled 150m east and 200m northeast of CQDH17-116, intersected similar styles of mineralization. The intersection in CQDH17-127 averaged 50.7m @ 0.13 g/t Au and 0.80% Cu from 111.2 to 161.9m. Hole 127 also intersected two oxide intervals higher up in the hole: 24.1 m @ 1.14 g/t Au starting at 4.5m and 17.4m @ 0.42 g/t Au starting at 58.9m. CQDH17-132 intersected 53.0m @ 0.43g/t Au and 0.64% Cu from 111.0 to 164.0m, including 13.0 m @ 1.09 g/t Au and 0.85% Cu from 111.0 to 124.0m. It also had an oxide gold intercept with 34.5m @ 0.24 g/t Au starting at the top of the hole. The sulphide material in these holes is similar to that in CQDH17-116 and is relatively low in arsenic.

Hole CQDH17-130, drilled south from the same pad as CQDH17-127, had an oxide intercept of 30.0m @ 1.49 g/t Au starting near surface, but no significant sulphide intercept. Hole CQDH17-121, drilled approximately 100m west of the bottom of the intersection in CQDH17-116, did not intersect the Cu-Au mineralization.

The orientation and true thickness of the Caballito Copper-Gold Zone is still unknown. Ongoing drilling is planned to help define the geometry and extent of mineralization. The relationship between the lower arsenic material in the Caballito zone and the more typical high-sulphidation style mineralization with higher arsenic found to the north of these holes in Idaida still needs to be determined. (See attached map).

Seven holes were drilled in the Quemita area testing for potential extensions to depth and along strike to the reserves established in the project Pre-feasibility Study. CQDH17-126, which intersected 69.4m grading 1.02 g/t Au of oxide material mostly below the main Pre-feasibility Pit, is particularly interesting. Grade continued below the oxide/sulphide boundary with an additional 42.8 m grading 0.90 g/t Au and 1.11% Cu. Interestingly, not all the high copper values have associated high arsenic, suggesting copper minerals besides enargite. Other results presented in the table below show potential for increased resources in other areas below the pre-feasibility study pit and small increases in the eastern part of the deposit.

Three holes were drilled in Idaida. CQDH17-120 had 36.0 m of oxide from surface grading 0.60 g/t Au. The two other holes did not intersect much oxide, but CQDH17-125 intersected 109.2 m grading 0.22 g/t Au and 0.54% Cu. However, in this hole there is a strong correlation between arsenic and copper.

Four holes were drilled in the Chontal zone, located between the Quemita and La Pava zones. Holes were targeted on a resistive anomaly outlined in the recent IP survey. Results indicate low potential for a mineralized zone in this area.

Marc Prefontaine, Orla CEO noted, “Orla’s primary goals for our first year of exploration at Cerro Quema were to increase the oxide resource and to test the sulphide potential within the large mineral system covered by the property. We have made good progress on both goals. In addition to continuing to follow up on the successful intercepts described, we plan to drill six holes this year to obtain material for additional metallurgical test work on oxide material as there are some potential improvements over the Pre-feasibility Study estimates that would be positive for project economics.”

Results for CQDH17-117 through 135 are given on the table below. A map showing the hole location is posted on the Company’s website at www.orlamining.com

Hole

Area

East

North

Elev

Az

Dip

Depth

Intercepts

From (m)

To (m)

Width (m)

Au g/t

Cu %

CQDH-17-117

Quema

553548

836123

854

140

-50

108

4.0

16.0

12.0

0.31

CQDH-17-118

Idaida

554353

835055

721

320

-50

130.5

No significant intercept

CQDH-17-119

Quema

553429

835807

881

180

-55

96

31.5

72.0

40.5

0.19

CQDH-17-120

Idaida

554190

834936

614

45

-60

141

0.0

36.0

36.0

0.6

CQDH-17-121

Caballito

554239

834481

466

0

-50

262.5

10.0

14.0

4.0

0.49

CQDH-17-122

Quema

553429

835858

872

180

-60

115.5

48.5

83.5

35.0

0.29

CQDH-17-123

Idaida

554389

834902

613

300

-50

113

0.0

6.0

6.0

0.47

CQDH-17-124

Quema

553383

835887

848

180

-50

136.5

85.8

99.0

13.2

0.32

CQDH-17-125

Idaida

554419

835017

702

320

-50

132

22.8

132.0

109.2

0.22

0.54

including

31.7

58.0

26.3

0.43

0.91

CQDH-17-126

Quemita

553180

835863

814

180

-55

165

38.8

108.2

69.4

1.02

108.2

151

42.8

0.9

1.11

CQDH-17-127

Caballito

554640

834608

639

270

-50

210

4.5

28.8

24.1

1.14

58.9

76.3

17.4

0.42

111.2

161.9

50.7

0.13

0.8

CQDH-17-128

Quemita

553127

835867

804

180

-50

124.5

28.0

60.2

32.2

0.2

CQDH-17-129

Chontal

551545

835286

495

325

-65

150

0.0

10.5

10.5

0.2

CQDH-17-130

Caballito

554636

834605

644

180

-70

142.5

5.5

35.5

30.0

1.49

CQDH-17-131

Chontal

551455

835245

488

325

-60

177

No significant intercept

CQDH-17-132

Caballito

554646

834733

657

245

-65

294

0.0

34.5

34.5

0.24

111.0

164.0

53.0

0.43

0.64

including

111.0

124.0

13.0

1.09

0.85

CQDH-17-133

Chontal

551416

835210

489

325

-60

169.5

0.0

9.0

9.0

0.29

CQDH-17-134

Quemita

553078

835866

787

180

-60

112.5

59.5

72.0

12.5

0.38

CQDH-17-135

Chontal

551585

835361

529

325

-60

154.5

No significant intercept

Drilling continues on the property with three man-portable rigs.

Quality Control Protocols

All gold results were obtained by ALS Minerals (Au-AA23) using fire assay fusion and an atomic absorption spectroscopy finish. All samples are also analyzed for multi-elements, including silver and copper, using an Aqua Regia (ME-ICP41) method at ALS Laboratories in Peru. Samples with copper values in excess of 1% by ICP analysis are re-run with Cu AA46 aqua regia and atomic absorption analysis. Drill program design, Quality Assurance/Quality Control and interpretation of results are performed by qualified persons employing a Quality Assurance/Quality Control program consistent with National Instrument 43-101 (“NI 43-101”) and industry best practices. Standards, blanks and duplicates are included approximately one in every 25 samples for Quality Assurance/Quality Control purposes by the Company as well as the lab. Approximately 5% of sample pulps are sent to a secondary laboratory for check assays. The HQ diameter core is halved with a diamond saw. ALS Laboratories is independent of the Company.

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Hans Smit, P.Geo., Chief Operating Officer of Orla Mining Ltd., who is the Qualified Person for the technical information in this news release under NI 43-101 standards.

On behalf of the Board of Directors,

Marc Prefontaine, M.Sc., P.Geo., President & Chief Executive Officer

About Orla Mining Ltd.

Orla Mining is a mineral exploration company led by a group of seasoned mining executives with strong financial backing. The Company’s focus is to acquire mineral exploration opportunities where the Company’s exploration and development expertise and corporate share structure can enhance shareholder value.

The 100% owned Cerro Quema project in Panama includes a near-term gold production scenario and significant exploration upside. Cerro Quema's 14,800 Ha concession boasts paved road access, a supportive local population and private land ownership. The Cerro Quema project is currently in the last stage of the permitting process for a proposed open pit mine and gold heap leach operation. Please refer to the Cerro Quema Project - Pre-feasibility Study on the La Pava and Quemita Oxide Gold Deposits dated August 22, 2014, which is available on SEDAR. Camino Rojo is an advanced gold and silver project located in Zacatecas State, Central Mexico. The project is 100% owned and has historical oxide reserves along with historical sulphide resources. It covers over 200,000 hectares and the Company believes it has exploration potential for additional oxide and sulphide mineral resources. Access and infrastructure are excellent with a paved highway and powerline nearby. A NI 43-101 Technical Report on Camino Rojo is available on SEDAR under the profile of Canplats Resources Corporation (acquired by Goldcorp in 2010).

Forward-looking Statements

This news release contains certain “forward-looking statements” within the meaning of Canadian and United States securities legislation, including, without limitation, statements with respect to the results of exploration and planned exploration programs, the potential for discovery of additional mineral resources and the Company's objectives and strategies. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release, including without limitation, assumptions that the Company's activities will be in accordance with the Company's public statements and stated goals; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained and that there will be no significant disruptions affecting the Company or its properties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements involve significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: risks related to uncertainties inherent in the preparation of preliminary economic assessments, drill results and the estimation of mineral resources; and risks associated with executing the Company’s objectives and strategies, including costs and expenses. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 7, 2017) -Orla Mining Ltd. (TSX VENTURE:OLA) is pleased to announce that it has completed, pursuant to an asset purchase agreement dated June 20, 2017, as amended, with Goldcorp Inc., the previously announced acquisition of the Camino Rojo Project, a gold and silver oxide heap leach project containing 1.7 million ozs of gold reserves* located in Zacatecas State, Mexico, for consideration to Goldcorp consisting of 31.9 million common shares of Orla and a 2% net smelter royalty. All of the mineral reserves and resources estimates herein are historical estimates and Orla is not treating such estimates as current. In addition, Orla and Goldcorp have entered into an option agreement regarding the potential development of sulphide operations at Camino Rojo whereby Goldcorp will, subject to the applicable sulphide project meeting certain thresholds, have an option to acquire a 60% or 70% interest in the applicable sulphide project. The Camino Rojo Project contains a sulphide resource of 7.5 million ozs of Measured & Indicated gold along with significant silver, lead, and zinc*. Details of the transaction agreements can be found on Orla's SEDAR profile at www.sedar.com.

Key Highlights

Acquisition by Orla of a second high quality, advanced oxide heap leach project in a low risk jurisdiction. The Acquisition leverages management's and the board's extensive exploration, development and operating experience in Mexico.

Significant mineral reserves and resources: 1.7 million ozs of oxide gold reserves and 7.5 million ozs of Measured & Indicated gold resources along with significant silver, lead, and zinc.*

Large prospective land package: Over 200,000 hectares, with potential to find additional oxide and sulphide mineral resources.

Ejido agreements and strong community relationships in place.

"We are very excited about this project", said Marc Prefontaine, CEO of Orla. "Camino Rojo is an advanced project with historic oxide gold and silver reserves, sulphide resources and a largely unexplored land position in a highly-prospective area. Crews are on-site preparing to commence a large work program with four priority goals: complete an updated resource estimate on the project; advance the oxide portion of the deposit as quickly as possible to a production decision for an open pit mine and heap leach extraction facility, continue evaluation of the sulphide portion of the deposit, and, commence exploration on several known gold and silver targets previously identified on the large 200,000 hectare land position."

*Note: Mineral Reserves and Resources estimate as reported by Goldcorp in its Annual Information Form dated March 16, 2017 ("AIF") for the financial year ended December 31, 2016, available to Canadian investors at www.sedar.com under Goldcorp's profile. Mineral Reserves and Mineral Resources were prepared by Goldcorp in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") under the supervision of a qualified person. The historical mineral reserve and resource estimates were estimated in accordance with the CIM Definition Standards and were calculated by Goldcorp using metal prices of $1,200 per gold ounce and $18 per silver ounce, and mineral resources were calculated using $1,400 per gold ounce, $20 per silver ounce, $1.00 per pound of lead and $1.00 per pound of zinc. A NI 43-101 Technical Report on Camino Rojo is available on SEDAR under the profile of Canplats Resources Corporation (acquired by Goldcorp in 2010). The last NI 43-101 Technical Report on Camino Rojo was produced on October 16, 2009 and amended on November 30, 2009. Orla is not treating these historical estimates as current and has not completed sufficient work to classify the historical estimate as current mineral reserves or mineral resources for Orla's purposes. Although Orla is not treating this information as current estimates, it believes the Goldcorp work is reliable and that the information, which was made publicly available by Goldcorp, may be of assistance to investors. The Company intends to review all project data, validate data quality, create a new geological model and then make an updated resource estimate in the upcoming months. As well, the Company will be reviewing metallurgical information and key economic parameters in order to evaluate the potential economics of an open pit gold and silver mine and heap leach extraction facility.

Overview of Camino Rojo

Camino Rojo is an advanced-stage project located 50 km southeast of Goldcorp's Peñasquito mine. Road transportation and power are located nearby, and in this historic mining region skilled labour and contractors are readily available. Camino Rojo consists of a near-surface oxide gold and silver deposit and a deeper sulphide zone containing gold, silver, zinc and lead mineralization.

The most recent NI 43-101 Technical Report on Camino Rojo was produced on October 16, 2009 and amended on November 30, 2009 and is available on Sedar under the profile of Canplats Resources Corporation. Since acquiring Camino Rojo in 2010, Goldcorp completed in excess of 250,000 metres of drilling, conducted airborne and ground geophysical surveys and did extensive geological and mineralogical investigations. Numerous metallurgical studies were also conducted, including detailed mineralogical studies, column leach studies for oxide ore, size fraction analysis, variability test work and sulphide flotation studies.

Historical Estimates - Camino Rojo Reserves and Resources*

As reported by Goldcorp at June 30, 2016, mineral reserves and resources for Camino Rojo are shown below. For Orla's purposes, these estimates for Camino Rojo are considered to be historical estimates under NI 43-101 as they were prepared by Goldcorp prior to Orla's agreement to acquire Camino Rojo.

MINERAL RESERVES (Oxide & Transitional)

Category

Tonnes (Mt)

Au (g/t)

Ag (g/t)

Au (Mozs)

Ag (Mozs)

Proven

-

-

-

-

-

Probable

75.52

0.70

14.22

1.70

34.53

Total Reserve

75.52

0.70

14.22

1.70

34.53

MINERAL RESOURCES (Sulphide)

Category

Tonnes (Mt)

Au (g/t)

Ag (g/t)

Au (Mozs)

Ag (Mozs)

Measured

-

-

-

-

-

Indicated

223.08

1.05

9.02

7.50

64.72

M&I Resource

223.08

1.05

9.02

7.50

64.72

Inferred

17.16

0.88

9.06

0.49

5.00

Notes:

1.

Mineral Reserves and Mineral Resources estimate as reported by Goldcorp in the AIF for the financial year ended December 31, 2016, available at http://www.sedar.com/ under Goldcorp's profile. Mineral Reserves and Mineral Resources were prepared by Goldcorp in accordance with NI 43-101 under the supervision of a qualified person. Orla is not treating these historical estimates as current and has not completed sufficient work to classify the historical estimate as current mineral reserves or mineral resources for Orla's purposes. Orla's qualified person will review and verify the scientific and technical information of Goldcorp, as well as complete the other work necessary for purposes of preparing a 43-101 technical report, including validation of data quality, resource model accuracy, and costs used in reserve and resource cutoffs.

2.

Mineral reserves were calculated by Goldcorp using metal prices of $1,200 per gold ounce and $18 per silver ounce, and mineral resources were calculated using $1,400 per gold ounce, $20 per silver ounce, $1.00 per pound of lead and $1.00 per pound of zinc.

3.

Mineral resources are in addition to mineral reserves and do not have demonstrated economic viability.

Summary of the Acquisition

The purchase price for Camino Rojo consists of:

31.9 million common shares of Orla, representing a 19.9% interest in Orla post transaction.

A 2% net smelter royalty on the sale of all metal production from Camino Rojo, except for metals produced from a sulphide project where Goldcorp has exercised its Sulphide Option. If Goldcorp elects to sell the royalty, in whole or in part, Orla holds a right of first offer on the sale.

In connection with the issuance of Orla common shares to Goldcorp, the parties have agreed that (i) Goldcorp will not sell any of the Orla shares for a period of two years, except in certain circumstances; (ii) for so long as Goldcorp maintains at least a 10% equity interest in the Company, it will have the right to participate in future equity offerings used to advance the Cerro Quema or Camino Rojo projects, in order to maintain its pro rata ownership and (iii) Goldcorp will have the right to appoint one nominee to Orla's board of directors.

In connection with the closing of the transaction, Orla is pleased to announce the appointment of Mr. Steven Thomas to the Company's Board of Directors. Mr. Thomas is currently the Vice President, Controller at Goldcorp Inc., having previously served as the Chief Financial Officer of Goldcorp Operations, Canada. Mr. Thomas has over 30 years of financial experience, with the last 13 years in the mining industry including De Beers Canada Inc. where he served as the Chief Financial Officer. He joined De Beers' London based Diamond Trading Company (DTC) in 2003 to establish an internal audit function for its global operations and was promoted shortly thereafter to the Head of Finance. Mr. Thomas is a Fellow of the Institute of Chartered Accountants and holds a Joint Honours Degree in Accounting and Economics from the University of Wales in the United Kingdom.

Sulphide Option

Orla will be operator of Camino Rojo and will have full rights to explore, evaluate, and exploit the property. However, in the event sulphide projects are defined through one or more positive pre-feasibility studies outlining a development scenario as outlined below, Goldcorp will have an option to enter into a joint venture with Orla for the purpose of future exploration, advancement, construction, and exploitation of such a sulphide project. The structure of the joint venture will depend on the following circumstances:

for sulphide projects where ore from Camino Rojo is processed using the existing infrastructure of Penasquito, the applicable sulphide project would be operated by Goldcorp, who would hold a 70% interest, with Orla owning 30%; or

for standalone sulphide projects with a mine plan containing at least 500 million tonnes of proven and probable reserves using standalone facilities not associated with Penasquito, the applicable sulphide project would be operated by Goldcorp, who would hold a 60% interest, with Orla owning 40%.

In the event that Goldcorp exercises an option, Orla has the option to require Goldcorp to finance Orla's share to develop the project. If Goldcorp elects to sell its portion of the sulphide project, in whole or in part, Orla holds a right of first refusal on the sale.

The technical information in this news release has been reviewed and approved by Mr. Hans Smit, P.Geo., Chief Operating Officer of Orla Mining Ltd., who is the Qualified Person for the technical information in this news release under NI 43-101 standards.

About Orla Mining

Orla Mining is a mineral exploration company led by a group of seasoned mining executives with strong financial backing. The company's focus is to acquire mineral exploration opportunities where the Company's exploration and development expertise and corporate share structure could substantially enhance shareholder value.

The 100% owned Cerro Quema project in Panama includes a near-term gold production scenario and significant exploration upside. Cerro Quema's 14,800 Ha concession boasts paved road access, a supportive local population and private land ownership. The Cerro Quema project is currently in the last stage of the permitting process for a proposed open pit mine and gold heap leach operation. Please refer to the Cerro Quema Project - Pre-Feasibility Study on the La Pava and Quemita Oxide Gold Deposits dated August 22, 2014, which is available on SEDAR.

Historical Estimate Note

*Note: Mineral Reserves and Resources estimate as reported by Goldcorp in the AIF for the financial year ended December 31, 2016, available to Canadian investors at www.sedar.com under Goldcorp's profile. Mineral Reserves and Mineral Resources were prepared by Goldcorp in accordance with NI 43-101 under the supervision of a qualified person. The historical mineral reserve and resource estimates were estimated in accordance with the CIM Definition Standards and were calculated by Goldcorp using metal prices of $1,200 per gold ounce and $18 per silver ounce, and mineral resources were calculated using $1,400 per gold ounce, $20 per silver ounce, $1.00 per pound of lead and $1.00 per pound of zinc. A NI 43-101 Technical Report on Camino Rojo is available on SEDAR under the profile of Canplats Resources Corporation (acquired by Goldcorp in 2010). The last NI 43-101 Technical Report on Camino Rojo was produced on October 16, 2009 and amended on November 30, 2009. Orla is not treating these historical estimates as current and has not completed sufficient work to classify the historical estimate as current mineral reserves or mineral resources for Orla's purposes. Although Orla is not treating this information as current estimates, it believes the Goldcorp work is reliable and that the information, which was made publicly available by Goldcorp, may be of assistance to investors. The Company intends to review all project data, validate data quality, create a new geological model and then make a new resource estimate in the upcoming months. As well, the Company will be reviewing metallurgical information and key economic parameters in order to evaluate the potential economics of an open pit gold and silver mine and heap leach extraction facility.

Cautionary Note Regarding Forward Looking Information

This news release contains certain "forward-looking statements" within the meaning of Canadian and United States securities legislation, including, without limitation, statements with respect to the Company's objectives and strategies. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made and they involve a number of risks and uncertainties. Certain material assumptions regarding such forward-looking statements are discussed in this news release, including without limitation, assumptions with respect to the anticipated benefits of the acquisition; the ability of the Company's management and board to effectively leverage their experience to develop Camino Rojo; the Company's ability to development one or more sulphide operations at Camino Rojo; that there will be no material adverse change affecting the Company or its properties; that all required approvals will be obtained and that there will be no significant disruptions affecting the Company, its properties or Camino Rojo. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements involve significant known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated. These risks include, but are not limited to: risks and uncertainties inherent in the preparation of preliminary economic assessments, drill results and the estimation of mineral resources; risks associated with executing the Company's objectives and strategies, including costs and expenses. Except as required by the securities disclosure laws and regulations applicable to the Company, the Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.